Jefferies Group LLC restated their hold rating on shares of Ceragon Networks Ltd. (NASDAQ:CRNT) in a research report sent to investors on Sunday morning. The brokerage currently has a $2.50 target price on the communications equipment provider’s stock.
A number of other analysts also recently issued reports on CRNT. Zacks Investment Research downgraded Ceragon Networks from a buy rating to a hold rating in a research report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of Ceragon Networks in a research report on Tuesday, August 8th. Finally, ValuEngine downgraded Ceragon Networks from a buy rating to a hold rating in a research report on Friday, September 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $2.67.
Ceragon Networks (CRNT) opened at 2.07 on Friday. Ceragon Networks has a 12-month low of $1.88 and a 12-month high of $4.23. The stock has a 50 day moving average of $2.05 and a 200-day moving average of $2.62. The company has a market cap of $161.23 million, a PE ratio of 9.72 and a beta of 1.25.
Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings results on Monday, August 7th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. The firm had revenue of $93.30 million during the quarter, compared to the consensus estimate of $87.84 million. Ceragon Networks had a return on equity of 13.52% and a net margin of 5.00%. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter last year, the company posted $0.02 EPS. On average, equities research analysts anticipate that Ceragon Networks will post $0.20 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. United Services Automobile Association bought a new stake in Ceragon Networks in the 1st quarter worth approximately $1,050,000. Menta Capital LLC bought a new stake in Ceragon Networks in the 2nd quarter worth approximately $408,000. KCG Holdings Inc. bought a new stake in Ceragon Networks in the 1st quarter worth approximately $573,000. Essex Investment Management Co. LLC lifted its position in Ceragon Networks by 35.5% in the 2nd quarter. Essex Investment Management Co. LLC now owns 523,772 shares of the communications equipment provider’s stock worth $1,336,000 after buying an additional 137,173 shares during the last quarter. Finally, Spark Investment Management LLC bought a new stake in Ceragon Networks in the 2nd quarter worth approximately $305,000. Institutional investors own 20.64% of the company’s stock.
Ceragon Networks Company Profile
Ceragon Networks Ltd. offers wireless backhaul solutions. The Company’s products include FibeAir IP-20 Platform, FibeAir IP-20 Assured Platform and Network Management. The Company provides its services to wireless service providers, public safety organizations, government agencies and utility companies, among others.
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